Venezuelan Inflation Soars

Venezuela's soaring inflation climbed in August toward its fastest pace in decades.

By

Ezequiel Minaya

Sept. 10, 2013 7:52 p.m. ET

CARACAS—Venezuela's soaring inflation, spurred on by a battered currency and grocery shelves running out of basic goods, climbed in August toward its fastest pace in decades, as the summer's end saw students preparing to return to school.

The central bank on Tuesday reported that the 12-month inflation rose to 45.4% in August from 42.6% in July. On a monthly basis, inflation slowed to 3.0% in August, after rising 3.2% in July.